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Posted May 20, 2009 | Copyright © The Northern Virginia Daily
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SCC approves Embarq merger
RICHMOND -- The State Corporation Commission has approved a merger plan involving Embarq, the parent company of two Virginia local telephone carriers.
Under the plan, which still requires other state and federal approvals, Embarq will become a wholly-owned subsidiary of Louisiana-based CenturyTel. The companies announced the merger in late October.
The all-stock deal will create a stronger company that can compete with the likes of Verizon and AT&T, particularly in rural areas, according to the two parties. The combined company would have about 8 million access lines and 2 million broadband customers in 33 states.
Embarq, based in Overland Park, Kan., is the local phone provider in Warren and Page counties and about half of Rappahannock County.
After the proposed merger is complete, customers will continue to receive service under the same rates, terms and conditions, the SCC said.
-- Daily Staff Report
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